I don’t know how many billions or is it trillions we’ve spent bailing out city bankers, but there’s none to help out the Post Office, in what seems a blatant attempt to scare MP’s into privatisation the government published a letter in which:

Jane Newell, the chair of trustees of Royal Mail’s pension scheme warns the deficit is “significantly larger” than the £5.9bn in the Hooper Review – which called for a minority stake in the business to be sold off.

She said its deficit was likely to rise well in excess of its current £5.9bn should the sale not happen, with potentially “devastating consequences” for the business. Source: The BBC.

At the same time as trying to shaft Post Office workers the government is in negotiations with the Royal Bank of Scotland and Lloyds:

Taxpayers may become liable for £500bn worth of bad loans and investments made by Royal Bank of Scotland and Lloyds Banking Group, the BBC has learned.

It would be part of the government’s Asset Protection Scheme, under which taxpayers insure banks against future losses from such assets. Source: The BBC.

Why don’t we just dip in for £5.9bn – everybody’s happy no job losses – but no! It seems where happy to throw our money down the bottomless pit that UK banking has become, but nothing to help out the postal workers – or come to that LDV who wanted just £30m.

And what’s this about 100% mortgages? Sometimes it’s the only way for those on low incomes to afford to get on the housing market – even after the recent falls in house prices there are many people who can’t afford to buy their homes. This is just a ploy to keep those that have money rich and those that don’t poor. The current crisis wasn’t caused by 100% mortgages it was caused by irresponsible banking and don’t let anyone tell you different – no one checked to see if people could afford the re-payments of what ever mortgage was offered – the amount of the loan to value of property was irrelevant then and now.

It seems the richer you are the more money the government will give you – what happened to Labour Ideals?